“It’s a significant amount which represents at least 20% of the country’s GDP.”

Critics however say that Cyprus has failed to carry out due diligence in relation to applications and that the scheme raises security concerns.

These are fears the island is eager to play down, insisting that regulations are in place.

“First of all, I must stress that we can’t talk about ‘selling’ passports,” said Dimitriades.

“In any case, the illustration of the Cypriot passport in advertisements won’t be allowed any more. More precisely the marketing of the programme won’t be allowed – only in a very strict way and there is also a special monitoring committee and a list of the service’s providers.”

Limassol is a particular favourite of those who have made the move from Moscow. Last year, Cypriot authorities said that more than 2,000 passports were issued, with half of them going to Russians.

The government of Cyprus should reduce the threshold from 2 million euros to 500,000€ for passports, Cyprus needs quality population, this will teach the Germans and the American that imposed the haircut back in 2013.

Anyone that doesn’t like this has the choice to go back to where they came from, at least the Cypriots understand business at a quality transparent level.